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  • Insurers Want Businesses to Wake Up to Costs of Extreme Heat
    Swiss Re has identified extreme heat as a significant insurance threat in its latest annual report on emerging risks with the Zurich-based reinsurer noting that up to half a million people globally die from extreme heat effects each year The death toll exceeds the combined impact of floods, earthquakes and hurricanes Heat waves contributed to conditions that generated $78 5 billion in
  • The Insurance Industry Must Wake Up To The Reality Of Climate . . . - Forbes
    Two global insurers have pulled out of the home insurance market in California because of the increased risk of wildfires, the growing costs of rebuilding and higher reinsurance premiums
  • After $70 Billion Hit, Insurers Wake Up to Growing Risks of Severe . . .
    While no single weather event caused more than $10 billion in losses for insurers last year, there were 37 thunderstorms that each cost at least $1 billion, according to a report by Aon Plc
  • How Insurers Can Take On the Climate-Driven Health Crisis
    Climate-Specific Insurance Products or Temporary Waivers In response to an increase in extreme heat events in Japan, two of the country’s biggest insurers, Sompo Holding Inc and Sumitomo Life Insurance, created a heatstroke insurance plan that costs as little as 73 cents for a day’s coverage
  • Preparing for the Unpredictable: Claims Strategies for Insurers in an . . .
    More extreme weather caused by climate change, rising material and labor costs, nuclear verdicts and social inflation have all resulted in larger catastrophic claims than ever before 2023 alone was a record year, with 28 weather and climate disasters in the U S , totaling $92 9 billion in damages, according to industry estimates, while 2024 is shaping up to be another year of sky-high claims
  • How wildfire risk and extreme heat impacts insurance sector | World . . .
    Insurers and policy-makers can come together to adjust regulations and limits for pricing catastrophe risk that accurately reflects this volatile climate peril environment This requires striking a fine balance between adopting regulations to ensure affordable and available insurance policies for homeowners, renters and businesses
  • Cut and Run: How Insurers Dodge the Climate Costs They Help Create and . . .
    In California, the frequency and severity of wildfires have increased the cost of disasters, prompting insurers to hike premiums or refuse to renew policies California’s home insurance rates jumped 48 4 percent from 2019 to 2024 Twelve major insurers have also restricted homeowners insurance even after being allowed massive rate hikes
  • After $70 Billion Hit, Insurers Wake Up to New Risk Pattern (1)
    The insurance industry is grappling with a new kind of weather risk that’s increasingly driving its biggest loss category While no single weather event caused more than $10 billion in losses for insurers last year, there were 37 thunderstorms that each cost at least $1 billion, according to a report by Aon Plc That’s more than ever before and way above the average of 14 such storms in a
  • Heat waves take growing economic toll, much of it uninsured - Axios
    The intrigue: With heat waves becoming more prevalent and menacing, businesses may seek new ways to insure against what are presently uninsured losses Parametric insurance, which provides a payout if certain temperature (or other types of) thresholds are exceeded, could provide effective ways to withstand the costs of this climate extreme
  • After $70 Billion Hit, Insurers Wake Up to New Patterns of Risk - Mint
    Insurance covered only 31%, or $118 billion of the estimated $380 billion of total losses for the year, according to Aon’s figures Extreme weather can undermine corporate physical





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